DUBLIN, August 3, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Growth Opportunities in the Global Automotive Sensor Market 2016-2021: Trends, Forecast, and Opportunity Analysis" report to their offering.
The global automotive sensor market is forecast to grow at a CAGR of 4.0% from 2016 to 2021.
According to a new market report the future of the global automotive sensor market looks good with opportunities in the engine and transmission, safety and security, body, chassis, and driver support applications.
The major drivers of growth for this market are increasing automotive production; increasing usage of electronic component per vehicle further increases the number of sensor, and various government regulations for fuel emission and vehicle safety.
In this market, engine and transmission, safety and security, body applications, chassis applications, and driver support are some of the major segments of automotive sensor. On the basis of its comprehensive research, Lucintel forecasts that the safety and security and driver support segments are expected to show above average growth during the forecast period.
Within the global automotive sensor market, the engine and transmission segment is expected to remain as the largest market. Continuous implementation of the fuel emission regulations and increasing sensor content in the engine and transmission applications would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to high vehicle production, continuous implementation of regulations on fuel emission and increasing number of sensor per vehicle. Europe and Rest of the World are expected to witness significant growth over the forecast period because of stringent government regulations on fuel emission and safety of vehicles, strong recovery in vehicle production and sales along with continuous demand for safety and comfort features.
Continental AG, Denso Corporation, Delphi Automotive PLC, ZF TRW Automotive Holdings Corp, and Honeywell International Inc. are the major sensor manufacturers in the global automotive sensor market. Some companies are opting for mergers and acquisitions as strategic initiatives for driving growth.
The study includes a forecast for the global automotive sensor market through 2021, segmented by applications and region as follows:
By applications ($ billion from 2010 to 2021)
- Engine and Transmission
- Safety and Security
- Body applications
- Chassis Applications
- Driver Support
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Honeywell International Inc.
- ZF TRW Automotive Holdings Corp
For more information visit http://www.researchandmarkets.com/research/x443w6/growth
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SOURCE Research and Markets